London-based consumer analytics startup Uncrowd lands £3 million
Ground-breaking customer analytics platform Uncrowd, has today raised £3 million in a new funding round led by Arete with participation of Begin and Matrix Capital. This new funding will be mainly used to further develop their platform as well as expand their team. The company has raised a sum of £3.5 million since its inception.
Founded in 2017, Uncrowd’s platform generates live-tracking Friction/Reward Indexes connecting them with their customers to help them choose the right retailer. In the era of total and easy access to competing choices, knowing where they stand among those choices is a retailer’s number one priority. With Uncrowd FRI retailers can win more shopper missions as the preferred option as well as identify safe opportunities to reduce costs while also optimising their effort both operationally and strategically. Most retailers unlock at least $1m additional operating profit using FRI.
Uncrowd’s co-founder Richard Hammond stated: “The traditional customer analytics industry has historically focussed on a two-dimensional understanding of the customer and their motivation, which is great, but there was a real gap in the market that needed to be filled in terms of what is going on elsewhere in the space. Uncrowd works by looking at the wider picture, using relative attractiveness to measure a retailer’s performance – because that is the key to developing your business. When you know your relative attractiveness versus your competitors, then you have the full 3D picture.”
More specifically, Uncrowd’s FRI analytics platform with integrated AI and ML provides unparalleled insights into shopper preference, behaviors and likelihood to buy; actionable-insights that make shopping easier, reduce friction, increase reward, slash churn, optimize budgets and reduce costs while optimizing customer acquisition spend and CX budgets in general
“In just four years, Uncrowd has managed to achieve recognition from tech giants Microsoft and Silicon Valley’s Plug and Play, the largest early-stage accelerator platform in the world. These are huge achievements for a company so young, which makes this a fantastic opportunity for Arete,” added Arete partner Ben Hatton.
Source: Tech.eu “Consumer analytics platform Uncrowd raises £3 million”